Not 24 hours after Sony announced it would slash about 10,000 jobs -- about six percent of its global workforce -- by the end of the year, the Japanese electronics maker announced on Tuesday that it has again doubled its annual net loss to a record $6.4 billion.
Wall Street felt tremors Tuesday afternoon as the S&P 500 Index, Nasdaq Composite Index and Dow Jones Industrial Average both dropped precipitously following declines in European equity markets.
At one point Tuesday the shares fell to 31 percent below their price on June 23, 2009, the day before Dunn took over as CEO, through Monday's close. Initial euphoria over Dunn's resignation soon gave way to a selloff.
Japan's Sony Corp. said it expects a record a $6.4 billion net loss, more than double previous forecasts, in its just-ended fiscal year, with over half of that amount ($3.6 billion) coming from write-offs of tax credits in the U.S.
The Knight Frank Wealth Report 2012 has marked seven cities as the world's fast-growing cities to watch in 2050, based on their potential for creating new market opportunities for local as well as global companies.
The top aftermarket NYSE gainers Monday were: C&J Energy Services, Visteon Corp, Centene Corp, Brookdale Senior Living, Hovnanian Enterprises and Alere Inc. The top aftermarket NYSE losers were: FX Alliance, Carnival Corp, Standard Pacific Corp, Vantiv, McClatchy and PPL Corp.
King concedes that quitting the euro zone and reintroducing its drachma currency would likely lead to financial and economic turmoil, but the move would ultimately benefit the Mediterranean country.
Telecommunications giant AT&T Inc. (NYSE: T) said Monday it will sell a majority stake in its struggling yellow pages business to private equity firm Cerberus Capital Management LP.
Sony will cut about 10,000 jobs, which equates to about six percent of its global workforce, by the end of the year. The move comes after an extremely poor annual forecast and the hiring of a new CEO, Kazuo Hirai, who looks to get profit out of the red for the first time in four years.
The world's demand for alternative energy sources is powering growth in German industry, or so a look at the list of fastest-growing public companies in that country would suggest. Already the world leader in solar panel manufacturing, Germany is also home to an array of booming companies whose business is on the more peripheral side of clean energy creation and conservation.
The Knight Frank Wealth Report 2012 has predicted which cities will lead the world in 2050, in terms of geopolitical power and importance.
Quad core processor is the latest trend in the smartphone market. HTC One X, Huawei Ascend D Quad and LG Optimus 4X HD, iPhone 5 and Samsung Galaxy S3 will have the same feature for faster performance and better battery life.
Consumer electronics and entertainment giant Sony is letting go 10,000 employees, a sixth of its total workforce, in an effort to concentrate resources on core business and bring the company back to black.
Proceeds of initial public offerings listed in the United States were relatively light in the first quarter, but they are likely to get absolutely heavier in the second quarter -- especially should Facebook Inc. conduct its anticipated $5 billion IPO in May.
China's love affair with American education is stronger than ever. Chinese families -- including those in the burgeoning middle class -- want to send their sons and daughters to be educated in another country, with most coming to U.S. institutions.
German software giant SAP has been named the overall market share leader in the worldwide business intelligence (BI) market, which spans BI platforms, corporate performance management (CPM) suites, analytic applications and performance management.
Current TV said Keith Olbermann broke his contract by missing work and sabotaging the network. Olbermann says he was punished for his unwillingness to tolerate the incompetence of network management.
J.C. Penney Co. Inc. and PPG Industries Inc. plan major layoffs as the former changes its corporate structure and the latter adjusts to weak European demand for its coatings and paints.
A US Coast Guard cutter used cannon fire Thursday to sink a Japanese fishing vessel that got washed out to sea by the March 11 tsunami. The Ryou-Un Maru was sunken 180 miles west of the US and Canadian borders off Southeast Alaskan coast.
Greg Mortenson, author of the bestselling 'Three Cups of Tea,' mismanaged the funds of his charity, the Central Asia Institute, according to a report released on Thursday.
If Stan Van Gundy doesn't coach the Magic anymore, the team may benefit from hiring a high-profile head coach replacement such as Patrick Ewing or John Calipari.
Gold rose on Thursday, as investors covered short positions after a sharp two-day pullback, and a crude oil rally also buoyed the precious metal that sank early this week on disappointment about further U.S. monetary easing.